The price of an article was increased two times successively by 10%. By what percent should the new price be reduced so as to restore the original price?
Answer & explanation
Correct answer: option 4
10% = \(\frac{1}{10}\)
Let number = 100
After increasing by 10% successively, the number = 100 × \(\frac{11}{10}\) × \(\frac{11}{10}\) = 121
To restore number should be decreased by = 121 - 100 = 21
Decreasing percentage = \(\frac{21}{121}\) × 100 = 17.36%